As a result of recent declines in bunker fuel prices, Matson Navigation Co. Inc. is decreasing its bunker fuel surcharges by 3 percentage points for its Hawaii, Guam, CNMI, and Micronesia services, according to a company statement issued yesterday.
Effective July 15, 2012, the drop lowers the charge from 42 percent to 39 percent for its Hawaii service, and from 38.5 percent to 35.5 percent for its Guam/CNMI and Micronesia services.
"We are pleased to be able to make this second consecutive downward adjustment to our fuel surcharge, which for most customers represents a reduction in shipping costs ranging from $70 to $120 per container," said Dave Hoppes, senior vice president, in an email to customers.
The last time the company adjusted its fuel surcharge was on June 17, 2012, when it lowered the rate by 3.5 percent.
It is the fifth consecutive decrease for the Guam, CNMI, and Micronesia services, with the company saying no upward change was necessary earlier in the year due to "significant increases in freight volume," following the departure of a competitor late last year.
The increase of 5 percentage points for the Hawaii service on Feb. 26, 2012, was proceeded by three consecutive decreases in 2011.
Matson says it is continuing to monitor fuel costs and will adjust the surcharge accordingly.